Stephan M. Liozu is Chief Value Officer of the Thales Group (www.thalesgroup.com) and Chief Marketing Officer of Thales Inc. in the USA. He is also an Adjunct Professor & Research Fellow at the Case Western Research University Weatherhead School of Management. He is a Certified Pricing Professional (CPP), a Prosci® certified Change Manager, and a Strategyzer Business Model Innovation Coach. He authored four books, Value Mindset (2017), Dollarizing Differentiation Value (2016), The Pricing Journey (2015) and Pricing and Human Capital (2015). Stephan sits on the Advisory Board of LeveragePoint Innovation and of the Professional Pricing Society. He is a Strategic Advisor to 360pi, The Kini Group, and PriceSenz.
Garbage in garbage out! Before you start working on data analytics, there are a variety of preparation steps that are critical to make sure you are heading in the right direction. Of course, you have to make sure you locate all the data sources in your organization. You will be surprised how much data is already available before you even think about adding more. Then you have to prepare your work by mapping the data points and starting the extraction process. Finally, you can think about connecting and leveraging all of these data sets. Remember that you have to learn to walk before you can run. These preparatory steps are essential for your success in data analytics. The more you invest up front, the more you will benefit from your data.